Jimmy Russo is Watford's new executive chairman.

The Watford Observer reported last week that the 53-year-old was expected to put his name forward at today's board meeting for the post, and his appointment was expected to be confimed to the Stock Exchange tomorrow morning. However, events have moved faster than anticipated since the printed version of this newspaper went to press earlier this afternoon.

Russo succeeds Andrew Wilson – who stood down from the board at the end of last month – in the top job at Vicarage Road, and the Hornets’ new executive vice-chairman will be his brother, Vince.

Commenting on his appointment, Jimmy told Watford's website: "I am delighted to take on the chairmanship of such a great club. It's truly an honour and I look forward to working with my fellow directors as well as the further board members we hope to appoint.

"I will always do my utmost for the club and serve it in a way the fans should be proud of. However, I want people to be under no illusions as to the task ahead.

"I have nothing but gratitude for my brother Vince, who had worked extremely hard alongside me and deserves his recognition as vice-chairman.

"Similarly Julian Winter has shown sheer dedication in his role and has helped us greatly to reach this point. I am also grateful to the staff, who have worked very hard during the transitional period, and to the supporters who have stayed patient in some uncertain times.

"Finally, I am really most pleased that we have Brendan Rodgers on board for the future which, with some hard work, can be one to look forward to."

Although the Italian brothers are under no illusions about the task facing them at Watford, these appointments complete what in many respects is the ultimate boardroom comeback.

The Russos were subjected to an 18-month enforced absence from the decision-making process at Vicarage Road after being removed from the board by the previous Graham Simpson/Mark Ashton/Wilson regime, but they called the extraordinary general meeting at the end of last year that witnessed former chairman Simpson’s resignation.

The bothers’ new posts also puts them in an even stronger position to safeguard their sizeable investment in the club.

Almost 30 per cent of the shares in Watford Leisure Plc are owned via their company, Valley Grown Salads, and the pair have effectively pumped £10m of their own money into the club during the two periods on the board.

While the Russos’ appointments have been confirmed, there have been no further developments regarding the two new directors.

The identity of these individuals was expected to be revealed after Watford chief executive Julian Winter told last week’s fans’ forum of their imminent appointment, but these had not been confirmed before the printed version of the Watford Observer went to press.